BNC vs CARR: Correlation
How closely do CEA Industries Inc. (BNC) and Carrier Global (CARR) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and CARR?
Over the past 3 years, BNC and CARR moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.07) runs above the 3-year figure (-0.21). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -817.6 %².
Within BNC's tracked universe of 37 assets, CARR comes in at #19 by 3-year correlation. The last year tells two different stories: CARR led by 74.5 percentage points, -86.1% for BNC against -11.6% for CARR. Note the risk asymmetry: BNC runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BNC vs CARR: side by side
| BNC (CEA Industries Inc.) | CARR (Carrier Global) | |
|---|---|---|
| 1-year return | -86.1% | -11.6% |
| 5-year return | -97.4% | +8.8% |
| Volatility (ann.) | 120.4% | 32.6% |
| Beta vs S&P 500 | -0.47 | 1.21 |
| Max drawdown (3Y) | -96.5% | -38.1% |
| Market cap | $0.1B | $48.5B |
| P/E (trailing) | 0.0 | 42.0 |
| Dividend yield | 0.00% | 1.61% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BNC | CARR |
|---|---|---|
| 2022 | -82.5% | -22.7% |
| 2023 | -34.9% | +41.5% |
| 2024 | +23.7% | +20.3% |
| 2025 | -20.9% | -21.8% |
| 2026 | -53.1% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and CARR good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BNC and CARR?
The BNC/CARR correlation stands at -0.21 on a 3-year window (1 year: 0.07, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is CARR a good diversifier for BNC?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BNC correlations · CARR correlations
